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In the main, NCC is impacted by the general economic situation and the GDP trend. Cost increases and rising interest rates have a dampening effect on the market. Throughout 2022, the market was impacted by rising prices, particularly for certain input materials and energy. Over the long term, higher prices lead to lower demand. Rising interest rates also affect interest in investing in new properties. The market for residential units and offices is impacted most by the economic situation.

At the same time, the long-term market conditions for contracting operations, property development and industrial operations in the Nordic region remain positive. There are plans for large industrial investments in parts of Sweden. There is an underlying demand for public buildings, such as schools, prisons, hospitals and retirement homes, and for residential units, driven by growth and development in the metropolitan regions and in other growth regions. This is also driving initiatives for infrastructure in city areas, including roads, public transport, water and wastewater, and energy solutions. In general, the market for renovation and refurbishment is also healthy.

The countries in which NCC has infrastructure operations have ambitious plans and investment initiatives in renewal, refurbishment and maintenance of national and regional infrastructure. Demand for asphalt and stone materials is driven by investments in infrastructure and maintenance.